Updated from 7:50 a.m. EDTTheStreet.com ( TSCM) posted a $3.2 million profit in the second quarter as strong gains in advertising and subscriptions drove a 60% year-over-year revenue improvement. The company, which publishes this Web site and provides online financial commentary, analysis and news, earned 12 cents a share in the quarter. In the year-ago second quarter, TheStreet.com lost $2.3 million, or 9 cents a share, including a loss of $3.9 million, or 15 cents a share, from discontinued operations. On a continuing-operations basis, earnings rose 94% in the latest quarter from a year ago. Revenue in the second quarter of 2006 totaled $12.4 million, up from $7.8 million a year ago. TheStreet.com's subscription revenue rose 57% from a year ago to $8.4 million. The number of paid subscribers to the company's premium services increased by about 3,800, or 4%, from April through June. Subscription bookings were $9.2 million, up 39% from a year ago but down 9% from the first quarter. Advertising revenue rose 76% to $3.7 million, reflecting a 98% year-over-year rise in Internet page views during the quarter. Compared with the first quarter, advertising revenue increased 14% and page views declined 3%. The company's Web sites had 4.4 million unique visitors in the quarter, up 57% from a year ago and down 3% from the first quarter. "Our strategy has been to grow both sides of our business -- advertising and subscriptions -- so that each one would be a strong revenue driver for the company," said Thomas J. Clarke, Jr., chairman and chief executive. "It is rewarding to see the success of each revenue stream reflected in our second-quarter results." Despite the better-than-expected results, shares of TheStreet.com were recently down 63 cents, or 5.8%, to $10.30. Investors may be leery that growth in the second quarter was not as robust as in the previous quarter. The number of page views, unique visitors to the Web site and advertising bookings decreased slightly from the first quarter.